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A damning new study suggests the world’s banking sector is failing to safeguard the future and enforce effective climate action policies. The study, supported by some of the world’s leading investors worth ~$2 trillion in assets, warns of numerous areas for concern, including climate strategy and low-carbon investment. As a whole, the report discloses wide ranging failure to align with the Paris Agreement.

In the context of this news, some of the worst ranking UK banks on the ethical index have also been found to still be profiting from various highly criticised fossil fuel projects. This includes the continued financing of fossil fuel growth. Some of the named offenders including  Barclays, HSBC, Lloyds and RBS, who have a consistent track-record of questionable investment policies.

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*To see how UK Banks and Building Societies rank and compare for ethics, visit the banking section of The Good Shopping Guide.

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